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Tax Cuts = Medicare Cuts

Published on November 21st, 2017

Republicans’ proposed tax reform bill would increase Obamacare prices by an average of almost $2,000 per family in 2019, according to an analysis released Thursday. The tax bill would lead to 13 million added to the list of the uninsured.  The federal Medicare program could be subject to annual funding cuts that would start with $25 billion next year if the Senate tax bill becomes law.

Republicans want to repeal the mandate as part of the bill because doing so would save almost $340 billion in federal spending over the next decade — savings which in turn would be used to increase tax cuts to corporations.  The Congressional Budget Office has estimated would be 5 million fewer people enrolled in Obamacare individual health plans, and 5 million fewer enrolled in Medicaid. Another 3 million people who now get coverage through a job are expected to become uninsured as well.

 CBO also estimates that premium prices for Obamacare plans would be 10 percent higher nationally as a result of the repeal of the mandate because insurers would have fewer healthier customers in their risk pools.  The average premium increase for a middle-class family of four that earns above $98,400 in the lower 48 states would be $1,990 in 2019, according to CAP.

“The Senate bill is looking more and more like a vehicle for rolling back health programs,” said Emily Gee, a health economist at CAP.

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